St. Landry democrat. (Opelousas, La.) 1878-1894, 1887-06-18
CURRENT TOPICS.

majority of sixteen out of the total
Republican strength in that body, the
rest of its actual majority coming from
the Monarchists. The Cabinet is made up
mostly of comparatively young men, and
medioCrities at that. The most promi
nent and ablest member is NJ. Spuller,
Minister of the Interior, who was a
trusted lieutenant of Gambetta's, and for
some time editor. of the latter's organ,
the Repub6que FRANCHISE. When one re-
calls that, apart from mere political
questions, the chief cause of the
late ministry's downfall was its in
ability to bring in satisfactory
budget in which something like a bal
ance could be struck between the gov
ernment's receipts and expenditures, the
ask of N. "Rouvier and his colleagues
tappears delicate and difficult. The late
Cabinet proposed new taxes. The Cham
Der declared for retrenchment, but shifted
the burden of selecting to the ministry.
The latter declined the task and re-
signed NJ. Rouvier, the new premier, is
an economist of some reputation, but
whether he will succeed any better than
his predecessor, Goblet, remains to be
seen. Very little confidence is felt in the
stability of the new ministry.
***
The st. Janoes' Gazette, an able English
journal of rigid Conservative princi-
Piles, refers with pride to the fact that
the three per cent. consols recently
touched 1881, the highest rate since
1851, and says "if high price for
its principal stock is to be ac-
cepted as proof of the stability of a
state, England is to be congratulated"
The three per cents are so often below
par that for them to be at premium is
notable occurrence. If that be proof
Of the stability of state, what is to be
said, then, of the republic whose securities
are always soaring high above par? Our
three per cents are practically out of ex-
istence, the government having redeemed
them. The four per cents, having
twenty years to run, bring thirty per
cent. premium. The English three per
cents are practically an annuity, feat
ure which adds to their value. Such a
three per cent. bond in this country
would command big premium. Twenty
year loans can be readily effected at two
and a-half per cent. on government
security.
**x
Chauncey NJ. Depew gives it as his
opinion that the labor question and the
Irish vote will settle the next presidential
election. He says that if the labor leaders
resolve to test the strength of their fol-
lowing, we shall have an unknown factor
in every State which will upset the calcu-
lations of the most astute politicians. He
adds, too, that the liquor question will
also enter largely into the next campaign,
ranking next to the tariff in Importance.
Considering the share that the
followers of St. John and Daniel
had in the last campaign, particularly
in the doubtful States, one can agree
with Mr. Depew in his opinion as to the
liquor question but Congressman Foran,
himself labor champion, elected mainly
by labor influences, is of the opinion that
while the Labor party may, possibly, elect
the next governor of Ohio, it will likely
lose it's grip before 1888. There is
good deal of fog obscuring the political
outlook at present.
*x*
What with the operation of the act
awarding lands in severalty to the In
dians, and the forfeiture of unearned
land grants and the restoration of in
demnity lands to the public domain, it
begins to look as if the emigrants would
not have to go on an exploring tour in
the great West and Southwest to find
desirable quarter section on which to
locate. The government has been very
indulgent to the landgrant roads,
although they can make good argu
ment for consideration in view of their
service in opening the interior to settle
ment. The time for settlement of ac-
counts with them is, however, overdue,
anu lH6 VI S1oillo WAA1
add millions of acres to the public lands
open to entry. Meanwhile another set
of intruders are being ordered off. Troops
have been ordered to take the fences Of
the cattle kings from the ranges, the
possession of which they seized and have
SO long enjoyed.
~
Owing to the small amount of specie
now held by the New York banks it is
likely that when the crops come to be
moved there will be sharp pinch in the
money market. The situation will be
eased If our exports will create a
of foreign specie to this coun-
try. The banks of England and France
and the Imperial Bank of Germany
are now gaining largely in their re-
serves. The three banks show between
hem for the week ended May ~ |
IN increase of S3,77O,OO0 in gold
ind So, 1856 900 in silver, an increase Of
s2, ,42s, ,255 specie compared with the cor
responding week last year. The dis